Qualitative Pricing Research
Description of How it Works
- In the initial stages of the project a significant amount of time should be allocated to determining which customers should be interviewed. The customer target list should be based on the expectation that the selected customers will provide the greatest insight or the most valued customers.
- In our experience, we have found that qualitative research is worth exploring as a pricing research methodology under the following conditions;
- Complex product confi gurations,
- B2B environments,
- When multiple decision makers are involved in the purchase decision.
- We have found that this pricing research methodology is not effective when;
- The purchase is an impulse decision,
- The product or service is a commodity,
- It is a simple decision making process for the buyer.